U.S. Inflation Pressures Bitcoin: PPI +5.4%, 10-Year Yield Near 5%
- —August PPI +5.4% y/y, above forecasts
- —10-year Treasury yield approached 5%
- —Bitcoin rose from $65,000 to $82,000 and lost momentum
- —The Treasury increased long-term debt buybacks to $6 billion
Why it matters: Rising yields and expectations of a Fed rate hike increase pressure on bitcoin and risk assets.
Source: CoinCentral